Following the launch of the Paycheck Protection Program (PPP), CPAs have an immediate need for guidance in order to help clients understand how to execute on the loan program and specifically how to document expenditures that will be eligible for future forgiveness.
NCACPA sent letters to North Carolina’s entire congressional delegation this afternoon to urge members of congress to put pressure on the Treasury Department and Small Business Administration (SBA) to issue formal guidance for PPP. Included in these letters are recommendations from the accounting profession to simplify the implementation and execution of the PPP.